There's more implications than you mention here if your sister co-signs for the home. First, she needs to establish a credit score. She can possibly do that with non-traditional means such as cell phone bills, rental payment receipts and things like that. And it's in her best interest to establish credit history. Most lenders can help her, or she can contact Blue Water Credit and ask them to help her.

But co-signing on a mortgage for you is not normally in her best interest. She takes on 30 years worth of obligation for a debt that she does not get the benefit of enjoying. 30 years is a long time,and should you at any time default on that loan, it would reflect negatively on her. In fact, she would be expected to pay it back should you not be able to pay. Should she EVER want to get a home of her own, she would be showing 100% obligation on your mortgage and have difficulty getting one for her own.

You might want to consider whether there is another alternative, or discussing the full implications of her co-signing so that it's clearly understood.... more

Good Morning, Are you looking to rent or own a home in the Natomas area? It is a great time to be investing in a home right now with interest rates so low and great loan programs out there that take very little down. Please let me know and I would love to help you find your next home.... more

I would talk to a lender that specializes in credit repair. He or she can help speed up the repair process and before you know it, you will be in your home. You should also focus on saving for a down payment of atleast 3.5% down plus closing costs. Your lender can give you an estimate as to what those fees are. You may be able to get the seller to pay for some of them :) Good luck!... more

You can check with Evelyne Jamet at Vitek, 916-452-8800. I wouldn't say you need "non-conforming", more like a loan for poor credit. Though, be forewarned, most of the loans for recent short sale situations do require 20% down. Alot depends on your credit and financials pre-short sale.
Let me know if I can help you further.
K... more

Freeway Circle is in the Twin Rivers District.
High school will be Foothilll High School, not
too far away off Hillsdale Blvd.
It is always recommended that you contact
the district to confirm attendance choices.... more

Raquel,
So sorry to hear that you are going through such a difficult time right now, however, a 3-Day Notice Pay or Quit is typically served to those who owe rent or in breach of their rental contract. If that is not the case, then you must be legally provided a 30-Day Notice.

Although we are Realtors, without all the specifics we can only provide you general information. In your case, I would highly encourage you to contact the Fair Housing and Employment Agency to seek free counsel. Please see the following link:

http://www.dca.ca.gov/publications/landlordbook/catenant.pdf

for California Handbook for Tenant and Landlord Responsibilities, please note for additional free assistance please see the contact information on page 95.

Loan modifications are not public record and a lender releasing that info to someone not authorized to get it could be a legal issue. You could make a request to your landlord but it's up to them to agree to provide it. A rental agreement is money paid for the right to live there, not really a requirement the landlord pay their mortgage.

New requirements in January require owners to disclose the filing of a Notice of Default to prospective tenants but that's about as far as it goes.

Brian Barnes from Paradise Financial does it. His number is 916-230-4750. I checked with him before I posted his info and he says CALHFA funds might be able to be used along with this program for added benefit.

Great lender, I always recommend him based on performance in our market with agents.

Yes you do. Most buyers agents will not show you houses until you get pre-approved and they know how much you can spend. I can refer you to someone who will pre-approve you. Call me at 916.442.4500.
Ted Greene
JCL Realty, Inc.... more

Total Guess - after the election in November we won't get eye water to cry with!! I fully expect that government and lenders will be less sympathetic to those that have honored their mortgages and paid on time even though they've lost all equity in their homes.... more

Yes, there are some lender that will loan people with 20% on a conventional loan after 2 years. Yet you need to pass each lender's criteria. Some are 24 months conventional, some are 3 years for FHA.
If you want more information about the lenders I use that do this, contact me privately, and would be happy to help.
Nancy

I would contact the lenders directly for that. Most loan brokers are focused on the refinance and purchase loan opportunities. While the best answer will come from a lender here, I thought I'd just add my two cents....

check with your local lender- either a bank or credit union and see what they would offer you. Of course the decision will be based on your credit worthiness and that you equity in the home, but they would be your best resource.... more